It’s National Credit Education Month, a perfect time to take control of one of your most powerful financial tools: your credit score. Whether you’re planning for a major purchase, working toward long-term goals, or simply aiming for greater financial flexibility, a healthy credit profile can unlock better rates and new opportunities.
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A recent survey found that 73% of Americans are saving less for emergencies due to rising consumer prices, higher interest rates, and shifts in income or employment. Just 41% of Americans could cover an unexpected $1,000 emergency expense using their savings.
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Goldman Sachs (NYSE:GS) has recognized Einat Steklov and Rishi Kumar, Co-Founders and Co-CEOs of Kashable, as two of the most exceptional entrepreneurs of 2024 at its Builders and Innovators Summit, held in Healdsburg, California.
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As featured in numerous trade and national media outlets, financial security levees are breaking for millions of Americans. Inflationary pressure, record household debt balances, unforeseen medical events, and more are causing 401(k) accounts to perform double duty as retirement accounts and sources of emergency savings.
Continue reading →As the financial landscape tightens, more Americans are tapping into their 401(k) plans for emergency funds. Data collected on current Huntington Ingalls Industries (HII) employees shared by Rishi Kumar, Co-Founder and Co-CEO at Kashable, reveals that 19% of HII 401(k) plan participants are currently repaying loans from their 401(k) accounts. Additionally, this data reveals that 6.4% of active contributors are making withdrawals, with 2.5% attributed to financial hardships.
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Total household debt reached $16.9 trillion by the end of 2022, indicating that Americans are grappling with a significant debt problem.1 This figure encompasses increases in mortgage, auto, and student loan balances, as well as credit card debt.2 The combination of these debts, along with rising interest rates and the inflation-driven cost of living has left Americans feeling anxious and financially strained.3
Continue reading →Financial Wellness Benefits help you compete in a tight job market
It’s harder than ever to attract and retain talent in today’s tight job market. The post-pandemic recovery created nearly 21 million jobs in two years[1] and reduced U.S. unemployment to 3.6%, which was great news for workers but made things extremely competitive for recruiters and companies looking to hire.
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The Equal Credit Act of 1974 guaranteed equal treatment for women seeking financing, but many women still lack full access to traditional banking services like personal loans, credit cards, auto loans, and mortgages. Why?
I have high-interest debts that are piling up. What can I do?
I have debts and expenses – should saving still be a priority for me?
If you are struggling to bolster your savings, you’re not alone:
What goes into a credit score?
The unexpected relationship between financial wellness and health
Financial wellness and overall wellbeing are far more interrelated than you might think. According to the American Psychological Association, money is the leading cause of stress among American adults[1].
With this week marking the start of a new political era, many individuals have questions about what may be coming for their financial wellness.
Are my employees struggling to build rainy day fund?
What goes into a credit score?
There are five main categories of information that impact a credit score:
